COPT sheds $75M in assets during first quarter

Corporate Office Properties Trust shed $75 million in assets during the first quarter, including a vacant 365,000-square-foot office building in Hanover.

The sales included five buildings in White Marsh for $19.2 million, which the Business Journal reported in February. The White Marsh buildings total 163,000 square feet and were 82 percent leased at the end of 2011. Four of the five buildings were constructed in the mid- to late-1980s.

The five buildings sold were:

7939 Honeygo Blvd. — 28,000 square feet;

8133 Perry Hall Blvd. — 28,000 square feet;

7923 Honeygo Blvd. — 23,000 square feet;

8114 Sandpiper Circle — 46,000 square feet; and,

8615 Ridgely’s Choice Drive — 38,000 square feet.

The sale of the buildings is part of Columbia-based COPT’s (NYSE: OFC) plan to shed properties not occupied by government-related tenants.

During the quarter, COPT also sold 222 and 224 Schilling Circle in Hunt Valley, and a 95,000-square-foot building in San Antonio.